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South China Morning Post

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Malaysia taps Hong Kong battery expertise to power ambitions for electricity grid

A Malaysian power systems specialist has struck a deal with a Hong Kong battery storage firm to pursue large-scale projects aimed at helping the country prepare its electricity grid for more renewable energy. The two-year agreement between Mikro MSC Berhad and Hong Kong Cospower Technology Co Ltd (HKCT) makes the company HKCT’s exclusive strategic partner in Malaysia for utility-scale battery energy storage system (BESS) projects. Such battery systems are meant to address one of solar power’s...

South China Morning Post

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Ukraine drones target St Petersburg as Russia’s flagship economic forum opens

Ukrainian drones hit energy and military sites in St Petersburg early Wednesday morning as officials gathered for a flagship economic forum in the city, Russian and Ukrainian authorities said. Some 20,000 guests from 130 countries are set to attend the three-day annual St Petersburg International Economic Forum – an event that was once Russia’s premier gathering to court Western investors and businesses – which starts Wednesday. The strikes come a day after a barrage of Russian missiles and...

RTHK News (Hong Kong)

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Education MoUs boost HK-Kazakhstan ties: CE

Chief Executive John Lee on Wednesday said memoranda of understanding (MoUs) signed between education institutions in Hong Kong and Kazakhstan lay the foundation for further cooperation between the two sides in the long run. He witnessed the exchange of MoUs between Nazarbayev University and Education University of Hong Kong as well as the Hong Kong Polytechnic University during a visit to the institution in the Kazakh capital, Astana, on the final day of his trip to the Central Asia country. “These agreements will deepen academic and research collaboration. They will strengthen people-to-people ties between Hong Kong and Kazakhstan,” Lee said in a speech. “This growing network of institutional partnerships is precisely how we build enduring foundations for long-term cooperation and mutual rewards." The CE noted that some 500 students from Kazakhstan are currently studying in universities in Hong Kong, and he invited more people from the country to pursue career opportunities in the SAR. “The Kazakh community in Hong Kong is growing, and I invite you to look to Hong Kong for your future. To students here, we welcome talented youth and entrepreneurs with open arms. The opportunities are wide open too.” Lee also pointed out that Nazarbayev University was where President Xi Jinping first proposed the Belt and Road Initiative back in 2013. "Since its inception, the Belt and Road has developed a comprehensive framework for global partnership. It's anchored in policy coordination, infrastructure connectivity, free and unfettered trade, financial integration, and critically, people-to-people bonds. More than a decade on, the foundations laid here are delivering rewarding results," he said. Professor Waqar Ahmad, president of Nazarbayev University, said his institution, which opened in 2010, has a lot to learn from universities in the SAR. Last year, Nazarbayev University launched a partnership with the Hong Kong University of Science and Technology to establish a joint Bachelor of Business Administration programme under which students spend two years at each institution. “One of the inspiring examples for us is the Hong Kong University of Science and Technology,” Ahmad said. “35-year-old doesn't behave like a 35-year-old institution, behaves like a fantastic, mature institution which competes with universities which are 200, 300, 400 years old, fantastic in everything that it does, and that's the kind of inspiration that we get excited by. “We are a university which is still in the making. You've got well-established universities with a global reputation. We need to learn from you to get there.” Before the exchange ceremony, Lee and his delegation toured the university and visited its teaching facilities on artificial intelligence, new materials and energy technologies. Lee will head to Uzbekistan on Wednesday afternoon to continue his trip in Central Asia. Edited by Edmond Fong

South China Morning Post

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문화/연예

China celebrity dog stolen, sold for US$25 and eaten; owner sues, stymied by weak pet laws

A celebrity dog in central China was stolen and slaughtered, leaving its owner seeking justice but confronting gaps in the country’s legal protections for pets. Guo, a travel influencer from Henan province, raised Chutou, an eight-year-old Border Collie known for his intelligence, energy and gentle temperament. The dog had amassed more than 1.5 million followers on mainland social media after accompanying Guo on years of journeys across China, from snowy mountains to deserts, often guarding him...

RTHK News (Hong Kong)

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HK can be key renewable energy hub: Kazakh expert

Researchers in Kazakhstan say Hong Kong's sound financial system, infrastructure and regulatory regime make it an ideal partner and fund-raising hub for green energy projects. Chief Executive John Lee will conclude his duty visit to Kazakhstan on Wednesday night, before continuing his Central Asian tour in Uzbekistan. The visit by the SAR delegation comes as Kazakhstan accelerates its decarbonisation drive, having committed to the Paris climate change treaty and a 2060 carbon neutrality target. "Our government is putting more effort on that. We have a lot of projects going on," said Nurxat Nuraje, head of the renewable energy lab at National Laboratory Astana. With petroleum reserves expected to be depleted within 50 years, he said the Kazakh government is "paying more attention to develop new technology like renewable energy technology". Nuraje, who attended the International Hydrogen Development Symposium in Wan Chai last month, believed there is plenty of room for cooperation. "We learned that Hong Kong has become a very important hub for the development of hydrogen and renewable energy," he said. "Hong Kong has a very good transportation system, also a capital investment system." Fellow researcher Yerbolat Magazov went further, suggesting Hong Kong look into developing a trading mechanism for green hydrogen. "The actual role of Hong Kong as a hub would be to make it not as an energy material, but as a valuable asset," he said. "Special frameworks, taxonomy, legislation — so hydrogen can be traded as a stock material." Their laboratory in the Kazakh capital has already demonstrated the potential of clean energy, after building a system last year that converts solar energy into hydrogen. Mainland company Zhejiang H2-Bank Technology was a key partner, supplying critical components such as electrolysers and hydrogen storage systems. But Magazov acknowledged they need to drive down costs before green hydrogen can really take off. It remains three to five times more expensive than "grey" hydrogen, which is derived from fossil fuels. "The biggest problem is bankability," he said. "Lots of people have lots of money, but they need to be sure that in the future, green hydrogen will be profitable. Right now, if you calculate, it's a non-profitable thing." This, according to Magazov, is where the Hong Kong brand comes into play. "If Hong Kong trusts this country, everyone can also trust. That allows future investors to put money and investments into this particular market," he said. With global energy markets remaining volatile, Magazov felt that Central Asia and China should forge closer ties. "It's better to make allies which are close to each other," he said. "China, Hong Kong, Kazakhstan and other Central Asian countries should bring together. In the future, if something happens, we'll be independent of others." Edited by Raymond Yeung

RTHK News (Hong Kong)

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HKTDC seals three agreements in Kazakhstan

The Hong Kong Trade Development Council (HKTDC) on Tuesday signed memorandums of understanding with three organisations in Kazakhstan. The individual agreements were made with Atameken, the National Chamber of Entrepreneurs of Kazakhstan; Satbayev University, a leading technical university in Almaty; and the Association of Consulting and Trading Companies. Chief Executive John Lee and Kazakhstan's Deputy Prime Minister and Minister of National Economy Serik Zhumangarin witnessed the exchange of documents at a luncheon. Zhumangarin said he is confident that the partnership between the two sides will deepen in the future. “Overall, the visit of the esteemed John Lee and the entire delegation is a practical confirmation of mutual trust, business interests and readiness to move towards the implementation of concrete projects,” he said. “I am confident that today's meeting will become an important step towards launching new joint projects, attracting investments and expanding business ties.” Several business entities among the delegation also signed individual memorandums of understanding with their counterparts in Kazakhstan, covering sectors such as finance, asset management, aviation, media, agriculture and new energy. A number of the agreements were signed by state-backed investment bank China International Capital Corporation Limited (CICC) as well as their Kazakh partners, including one with the Sovereign Wealth Fund Samruk-Kazyna. The Hong Kong Airport Authority and Cathay Pacific also secured operational agreements with Almaty International Airport. Cathay announced that it plans to operate three direct flights per week connecting Hong Kong to Almaty, starting in the first quarter of next year. The Chinese Manufacturers' Association of Hong Kong, Federation of Hong Kong Industries and Hong Kong General Chamber of Commerce also secured deals. Edited by Thomas McAlinden

South China Morning Post

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Oil prices rally on Hormuz talks but will Asia’s energy woes ease?

Oil prices have eased sharply on hopes that the US and Iran will agree to reopen the Strait of Hormuz, but analysts say Asian economies are unlikely to quickly shake off the effects of the energy shock even if the key waterway returns to normal. Benchmark Brent crude oil fell 11.15 per cent to US$92.13 per barrel on Friday, from its level a week earlier, its steepest weekly drop since early April. Prices edged up again on Monday, trading at about US$93 per barrel during Asian afternoon trading...

RTHK News (Hong Kong)

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Towngas in talks with govt to raise gas prices

Towngas on Monday said it is in discussions with the government to raise gas fees due to the latest energy price spikes caused by the conflict in the Middle East. Peter Wong, the managing director of Hong Kong's sole gas provider, told a press conference that the prices of naphtha, which accounts for about 40 percent of the raw materials for producing gas, has doubled since the start of the year. "We are currently under pressure to raise charges and we're in close communication with the government over the extent of the price increase. It's also because of the rise in energy prices and inflation," he said. "As to when a decision will be made, It's up to the government. But if we look back to two years ago, our previous price increase was implemented on August 1," he added. Wong, however, did not give a timeline on when the prices would go up. He noted that the firm has so far saved more than HK$20 billion on fuel costs for local customers because of its long-term "take or pay" contract with a supplier in Australia to secure natural gas. Under their 25-year agreement, signed in 2006, the Australian firm would supply natural gas to Towngas for fixed prices during the period. Towngas has also started negotiations with the Australian supplier over the new prices of their contract as the current one is set to expire in 2031, but "it's difficult to assess the new pricing", Wong said. Separately, he forecast that the city's total gas consumption would decline by three percent year-on-year in the first half of the year, partly because of the high temperatures that has reduced residential demand. But he added that the decline is likely to be smaller for the full year, pointing to a recent increase in gas consumption in the hotel and catering sectors. Meanwhile, Wong expressed optimism over the Northern Metropolis development, noting the company is laying pipelines to meet the demand of the expected additional 1.5 million residents and commercial users there. Edited by Aaron Tam

South China Morning Post

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Impact of Middle East war on Hong Kong’s inflation ‘limited’, says finance chief

External shocks from the war in the Middle East have had only a limited impact on Hong Kong’s inflation, the finance chief has said, despite an upwards revision to forecasts, citing the city’s service-based economy and stable energy and food supplies from mainland China. Briefing the Legislative Council’s Panel on Financial Affairs on Monday, Financial Secretary Paul Chan Mo-po said the surge in global fuel prices was expected to feed through to fuel-related consumer prices, pushing inflation...

South China Morning Post

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Green initiatives make HKIS campus a living laboratory

[The content of this article has been produced by our advertising partner.] Through its commitment to creating a green campus by cutting carbon emissions through System Optimization and producing renewable energy, Hong Kong International School (HKIS) is also giving students an in-depth understanding of real-world approaches that turn ideas into action and bring net-zero targets within reach. The school has long made sustainability a priority, but has now taken that further by teaming up with...

South China Morning Post

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US quietly plays the long game on energy dominance against China

Sun Tzu wrote that “fighting and winning all your battles is not the height of skill; subduing the enemy without fighting is the height of skill”. That maxim offers perhaps the clearest lens to interpret the logic of American grand strategy under US President Donald Trump. What many dismiss as inconsistency may conceal a patient strategic deception. The aim is not direct confrontation, but the quiet reshaping of the global economy in support of long-term US power. The US wants to improve its...

South China Morning Post

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Russia says Ukraine drone struck Zaporizhzhia nuclear plant

Russia’s state ⁠nuclear energy company Rosatom said on Saturday that a Ukrainian drone had struck the Russian-controlled Zaporizhzhia nuclear plant, Europe’s largest, causing no damage to key equipment, but the Kyiv military ‌denied it. Rosatom’s head Alexei Likhachev called the incident “deliberate” and said it left a hole in the wall of a turbine hall. “This afternoon, a Ukrainian kamikaze combat drone struck the turbine hall building of Power Unit No 6, resulting in ⁠a subsequent detonation,”...

RTHK News (Hong Kong)

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Banking sector looks to fund Central Asia's boom

Bank of China (Hong Kong) said on Thursday the local banking industry is ready to act as a major financial services provider for Central Asia's booming economy. A senior executive from the lender representing the Hong Kong Association of Banks will join Chief Executive John Lee's delegation when he visits Kazakhstan and Uzbekistan next week. BOCHK deputy chief executive Stephen Chan, who's acting chairman of the Association of Banks, said the economies of Kazakhstan and Uzbekistan have exponential growth potential and are willing to seek external cooperation. Chan pointed out that both countries are advancing large-scale infrastructure projects in the areas of transportation and energy. As an international financial centre, the SAR can serve their long-term funding needs, he said. "Construction for highways and airports can span 20 to 30 years," he said. "The SAR's financial institutions can also provide various financing solutions, such as by arranging syndicate loans or issuing offshore bonds, to support the implementation of these projects." Chan noted that the SAR – being the world’s largest offshore renminbi hub – can also facilitate the use of yuan in cross-border trades and investment in Central Asia. “These services include the provision of offshore renminbi cash management and settlement service, as well as trade finance services and supply chain finance," he said. "It is fair to say that the demand spans all dimensions, from capital accounts to current accounts." Chan added that during the visit, the Association of Banks would seek to engage in exchanges with local government departments, financial institutions and businesses to gain a deeper understanding of the latest government policies and market demand there. Edited by Edmond Fong

South China Morning Post

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China plans to embed AI in energy infrastructure to optimise power grid efficiency

With victory in the global race to build artificial intelligence capacity heavily dependent on resilient power systems, China is urging domestic enterprises to launch pilot projects that integrate the cutting-edge technology into the energy sector. To support the plan, Beijing has released an official list of application scenarios ranging from smart grids to autonomous coal mines. Energy enterprises would be able to partner with artificial intelligence providers and jointly submit proposals for...

South China Morning Post

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What India’s ‘unsinkable aircraft carrier’ project near Malacca means for its China ties

The global energy crisis stemming from the effective closure of the Strait of Hormuz has added complexity to already competitive China-India maritime relations. The bottleneck in the Gulf has disrupted the provision of vital supplies of oil, gas and fertilisers to Asia, underscoring the fragility of global supply chains and the significance of trade chokepoints. Amid uncertainty over the Strait of Hormuz’s reopening, India’s US$10 billion plan to transform remote Great Nicobar Island into a...

South China Morning Post

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How Southeast Asia’s ambitious green transition strategy is a windfall for China

Chinese energy companies are poised to play an important role in Southeast Asia’s ambitious green transition plans, which will see countries across the region integrate their power grids, according to a senior Singaporean official. The strategy could eventually lead to a cross-regional network running all the way from Singapore to southern China via nations including Malaysia and Thailand, according to Puah Kok Keong, chief executive of the Energy Market Authority of Singapore – the city state’s...

South China Morning Post

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As Iran war stokes water security fears, Central Asia could turn to China

Central Asia is tilting more decisively towards China as geopolitical uncertainty deepens, with Beijing’s expanding influence recasting the former Soviet states’ strategic orientation. In the first of a three-part series, Laura Zhou looks at how vulnerabilities laid bare by the Iran war might make the region look to China for water security. The US-Israel war on Iran has crippled global supply chains, choking off the world’s energy supply alongside reserves of critical commodities like...

South China Morning Post

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Xpeng’s driverless cabs; Tesla launches FSD in China; Nio slams price wars: 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Chinese firm Xpeng builds driverless cabs, challenging Tesla’s FSD software Chinese electric vehicle (EV) maker Xpeng has begun mass production of autonomous cabs powered by its own chips, likely to mount yet another challenge on Tesla as both companies pursue a leading position in...

South China Morning Post

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The 4 trilateral frameworks defining northeast Asia’s future

When Washington, Beijing and Moscow begin to treat one another as bargaining partners again, northeast Asia feels the pressure. Taiwan, Korea, sanctions, energy routes, nuclear risks and missile defence are no longer separate theatres. They increasingly belong to one strategic conversation between the US, China and Russia. Northeast Asia itself is already being reorganised through three trilateral structures with different purposes, degrees of institutionalisation and strategic effects. Thus the...

Hong Kong Free Press

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Electricity bills to hit short-term peak in August, says Hong Kong energy adviser

Hong Kong’s electricity bills are expected to hit a short-term peak in August due to the Middle East conflict, an energy advisory chair has said. Hong Kong’s current electricity tariff has yet to reflect the impact of the Middle East conflict, which broke out in late February, Simon Wong, chair of the government’s Energy Advisory […]

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Malaysia taps Hong Kong battery expertise to power ambitions for electricity grid

Ukraine drones target St Petersburg as Russia’s flagship economic forum opens

Education MoUs boost HK-Kazakhstan ties: CE

China celebrity dog stolen, sold for US$25 and eaten; owner sues, stymied by weak pet laws

HK can be key renewable energy hub: Kazakh expert

HKTDC seals three agreements in Kazakhstan

Oil prices rally on Hormuz talks but will Asia’s energy woes ease?

Towngas in talks with govt to raise gas prices

Impact of Middle East war on Hong Kong’s inflation ‘limited’, says finance chief

Green initiatives make HKIS campus a living laboratory

US quietly plays the long game on energy dominance against China

Russia says Ukraine drone struck Zaporizhzhia nuclear plant

Banking sector looks to fund Central Asia's boom

China plans to embed AI in energy infrastructure to optimise power grid efficiency

What India’s ‘unsinkable aircraft carrier’ project near Malacca means for its China ties

How Southeast Asia’s ambitious green transition strategy is a windfall for China

As Iran war stokes water security fears, Central Asia could turn to China

Xpeng’s driverless cabs; Tesla launches FSD in China; Nio slams price wars: 7 EV reads

The 4 trilateral frameworks defining northeast Asia’s future

Electricity bills to hit short-term peak in August, says Hong Kong energy adviser